Marleau's agent, Pat Brisson, told Sportsnet's Elliotte Friedman on Wednesday that the fit is not there between the player and team. However, he said Marleau still wants to play and will pursue other opportunities around the league.

Marleau was informed of San Jose's decision in July, according to TSN's Pierre LeBrun. The Sharks have a huge amount of respect for Marleau but want to give younger players a chance to play.

The Toronto Maple Leafs traded Marleau this summer to the Carolina Hurricanes, who proceeded to buy him out. Marleau waived his no-trade clause to allow the move with the expressed intent on returning home to the west coast.

Marleau, 39, hasn't missed a game since the 2008-09 campaign, but he tallied just 16 goals with the Leafs last season, which was his lowest total since his rookie year in 1997-98.

The Sharks have $4.68 million in projected cap space, according to CapFriendly. They're still expected to bring back Joe Thornton, who remains a UFA.